The cryptocurrency world has been captivated by another wild prediction. This time, Coinbase's former CTO Balaji Srinivasan foresees that Bitcoin is capable of dividing countries into two opposing camps. The analyst believes that the first cryptocurrency "challenges the business model of centralized states seeking to control financial flows."
According to Srinivasan, Bitcoin is not only a technological innovation but also a "political revolution." If the leading digital asset breaks the system of money issuance manipulation, citizens will be able to build a voluntary financial network apart from state interests, the former CTO of Coinbase assumes.
"It (Bitcoin) allows free people to decide from scratch what collectives they want to form, what public goods they want to crowdfund, and what they want to voluntarily do together as a society," he said.
Srinivasan believes that BTC could split the world into two camps: those that have legitimized or are just adopting the cryptocurrency (El Salvador, the Central African Republic, Bhutan) and those that question its relevance and significance. As a result, countries from the second camp will become opponents of the first cryptocurrency and will try to ban it. Moreover, crypto assets may be confiscated from citizens, the expert supposes.
Many opponents of the world’s largest cryptocurrency admit that it "has any utility to calling it too powerful to leave in the hands of the citizenry. And then the attempts at seizure will begin," Srinivasan noted.
Earlier, the former top manager of the crypto exchange advised digital asset developers not to fight hostile regulation but to move to crypto-friendly jurisdictions.
